Arise Television’s Morning Show anchor, Rufai Oseni, has criticised the administration of President Bola Tinubu over Nigeria’s growing debt burden, warning that the country’s heavy reliance on borrowing could further weaken the economy if funds are not effectively managed.
His comments came in response to President Tinubu’s recent remark that debt should not be treated as a “leprosy.”
Speaking on the Arise Television Morning Show on Thursday, Rufai Oseni argued that Nigeria’s rising debt profile has become increasingly unsustainable, stressing that it could have damaging consequences if not properly handled.
He pointed to the significant portion of the national budget—estimated at about N15 trillion to N16 trillion out of roughly N60 trillion—being used for debt servicing, saying it leaves little room for meaningful development that directly improves citizens’ lives.
Oseni also raised concerns about what he described as limited accountability and questioned whether borrowed funds were translating into visible economic growth or social progress.
He further criticised ongoing borrowing trends, citing new external loans and an expanding debt stock, while questioning the impact on public services such as healthcare, education, and infrastructure.
According to him, projects like roads and ports, though ongoing, do not automatically guarantee broad-based development, especially if transparency and proper implementation are lacking.
He also noted that initiatives such as student loans still represent future financial burdens for beneficiaries, as repayment is required.
Rufai Oseni concluded that debt, if poorly managed, can become a major economic liability, stressing that Nigeria’s current trajectory raises serious concerns about sustainability and the welfare of its citizens.
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